Accounting for Ship Owners

1 Credits: Accounting


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Accounting for Ship Owners

Course Level
CPE Credits

1 Credits: Accounting

Course Description

Ship owners must deal with a massive number of accounting transactions to operate their ships. In the Accounting for Ship Owners course, we cover the essentials of revenue recognition, as well as the accounting for operating expenses, ship construction costs, depreciation, dry-docking, day-to-day maintenance, vessel impairment testing, and several related issues.

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Learning Objectives

Upon successful completion of this course, participants will be able to:

  • Recognize the different revenue-generating arrangements that a ship owner may use.
  • Recall the different types of expenses that a ship owner may incur to operate a ship.
  • Recognize the different types of costs that are capitalized into a ship asset.
  • Specify the rules used to derive the depreciation expense for a ship.
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Course Specifics

Course ID
Revision Date
May 13, 2024

There are no prerequisites.

Advanced Preparation


Number of Pages

Compliance Information

NASBA Provider Number: 103220

CMA Notice: Western CPE makes every attempt to maintain our CMA CPE library, to ensure a course meets your continuing education requirements please visit Insitute of Management Accountants (IMA)

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

Meet The Experts

Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …